Leonards,a leading French garment manufacturing company,is looking for ways to go global.Penny,a designer from California,wishes to open a fashion boutique in the neighborhood,and gain production expertise and name without having to invest significantly.She learns about Leonards' global expansion plans,and buys the right to use its manufacturing process for a royalty fee.This allows it to gain entry into a foreign market at little risk.Leonards has used the ________ method of entering a foreign market.

Question

Quizplus · Accepted Answer

The scenario describes licensing, which involves allowing a foreign entity to use a company's intellectual property or technology for a fee. Penny has bought the right to use Leonards' manufacturing process for a royalty fee, allowing her to enter a foreign market without significant investment.

Leonards,a Leading French Garment Manufacturing Company,is Looking for Ways to Go